18663 Ventura Blvd, Suite 227Tarzana, CA 91356
FREE CONSULTATION818-436-2775
18663 Ventura Blvd, Suite 227Tarzana, CA 91356
FREE CONSULTATION818-436-2775
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Personal, Affordable Payroll Services, Bookkeeping, and Tax Processing for Small Business throughout Los Angeles County.

Should You Hire a Single Accountant or an Accounting Firm?

 

As a business owner, you are responsible not only for the success of your business, but also for your employees. One of the decisions you’ll have to make is whether to hire an accountant who is a sole practitioner or to choose from among the available Los Angeles accounting firms. What are the advantages, and disadvantages to each of these options?

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The Advantages
If you choose to hire an individual accountant, you may have access to a professional who has worked to become familiar with one specific area of accounting, payroll processing or accounts payable/receivable, for example. By hiring a single accountant, your business may be able to develop a working relationship that allows you to directly interact with the accountant for many years.

Los Angeles accounting firms can offer some important advantages as well. They are also able to work within one specific field of accounting, but they may also be able to hire several individuals in order to understand more deeply their chosen areas of accounting. An important advantage that hiring a firm over hiring individual accountants is the reduced risk that comes from hiring a well-respected firm.

The Disadvantages
There are some clear disadvantages to hiring and working with an individual. If the accountant goes on vacation or is unable to work for any reason, your business may be left in the lurch. An individual accountant may also work at a slower pace than a firm would be able to perform. Accountants who work on their own may charge less for their services, but are often limited as far as the services that they can provide.

Accounting firms offer the experience and resources of several CPAs working together. Thus they are able to work more efficiently and consistently than a single accountant. On the other hand, you may feel that you have less control over the accounting processes and you’ll probably pay a little more to work with a firm.

In the end, you’ll have to balance the needs of your business with the advantages that Los Angeles accounting firms or individual accountants have to offer. Weigh this information with the disadvantages of each option. Finally, keep in mind the overall effects that your choice will have on your business.